Triglav Skladi D.O.O. Makes New $1.50 Million Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Triglav Skladi D.O.O. acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 11,000 shares of the company’s stock, valued at approximately $1,502,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of NBIX. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $25,000. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. GeoWealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after acquiring an additional 102 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In other news, Director William H. Rastetter sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NBIX. UBS Group boosted their price target on Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Evercore ISI cut their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Bank of America cut their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Needham & Company LLC boosted their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Finally, BMO Capital Markets boosted their price target on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Neurocrine Biosciences Trading Up 0.6%

NASDAQ:NBIX opened at $121.02 on Monday. The firm has a market capitalization of $11.98 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The stock has a 50 day moving average of $107.02 and a 200-day moving average of $121.92. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share repurchase program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.